ETH may reach $27K this bull cycle, expert predicts
Ether (ETH) may reach $27,000 at the top of the current bull cycle, predicts Ethereum community member and investor Ryan Berkmans.
“My personal prediction is $12,000 to $27,000 per Ethereum in 18 to 30 months,” he said in a recent interview with Cointelegraph.
As a major driver of ETH's appreciation, Berkmans pointed to the lack of selling pressure by miners, which disappeared after Ethereum switched from proof-of-work to a peer-to-peer communication system in September 2022 with a merger update.
The current bull cycle is the first for Ethereum since the transition to a proof-of-stake system.
As noted by Berkmans, miners must regularly sell large amounts of coins to cover operating costs, which puts downward pressure on the prices of proof-of-work coins.
According to the expert's estimation, at the peak of the last cycle Etheruem was responsible for the majority of proof-of-work-related costs despite having a lower market capitalization than Bitcoin.
Berkmans said, “We should expect overall job proof-of-sales pressure to decrease by more than 80% compared to the last cycle.”
Check out the full video on our YouTube channel to learn more about Berkmans' view of Ethereum in the current market cycle!
